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Mexico President: China Will Dominate U.S. Economy by 2050

López Obrador: "En 2050, si no hay un fortalecimiento de la economía de América, China va a tener el dominio"

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Mexican President Andrés Manuel López Obrador warned on Tuesday of the “economic and commercial dominance” that China will have in 30 years, and urged to strengthen the commercial integration of America.

“In 2050, if there is no strengthening of the economy of North America and America, China is going to have commercial economic dominance, of the world, and we do not consider this to be convenient,” said the president in his daily press conference.

The President made this statement after being questioned about the “Plan Mexico” promoted by the Secretary of Finance, Rogelio Ramirez de la O, in the United States to improve the commercial integration of the continent and attract companies that are now in China.

The President had already pointed out the power of China’s economy at the North American Leaders Summit last November in Washington, where he commented that China “dominates 14.4%” of the world market, while Mexico, the United States and Canada only represent 13%.

For this reason, he now reiterated that “this plan must be promoted” because “if the North American economy is not strengthened, in 30 years China will completely dominate the economy and the world market.”

“And for us, regardless of the economic and commercial issue, we do not want a hegemony of any country, because if there is no balance, they will want to resolve these disparities with the use of force, with war,” he added.

When asked, the President acknowledged that “Plan Mexico” will promote import substitution throughout the continent.

“It even includes investments and credits for import substitution to encourage industrial development, it is not only about companies that are in China coming to Mexico or North America, but it is a plan with stimuli”, López Obrador explained.

Even so, the president clarified that “it is not about closing our economies or the region to international trade, nor about creating tariffs on foreign goods, much less about trade wars.”

López Obrador reaffirmed his proposal to include temporary visas for workers from Mexico and Central America to work in the United States and Canada, where there is a lack of labor in low-income and low-skill positions, according to his diagnosis.

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